Linn Energy LLC Earnings: Here’s Why the Stock is Falling Now

Linn Energy, LLC (NASDAQ:LINE) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.31%.

Results: Adjusted Earnings Per Share decreased 36% to $0.16 in the quarter versus EPS of $0.25 in the year-earlier quarter.

Revenue: Rose 4.24% to $369.1 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Linn Energy, LLC reported adjusted EPS income of $0.16 per share. By that measure, the company missed the mean analyst estimate of $0.24. It missed the average revenue estimate of $581.96 million.

Quoting Management: “While the company experienced a challenging operating environment in the first quarter, the high quality and depth of our inventory still gives us the ability to grow organic production nearly 10% in 2013. This production growth will allow the company to steadily increase its distribution coverage ratio throughout the year,” said Mark E. Ellis, Chairman, President and Chief Executive Officer.